European Central Bank council member Axel Weber said the ECB shouldn&rsquo;t cut its main interest rate below 1 per cent and that he would rather keep the rate at which it accepts overnight deposits unchanged.

ECB shouldn't cut key rate below 1%: Weber

Business Standard

Kolkata-based Allahabad Bank is planning to raise Rs 1,000 crore through bonds by the end of this month. Out of this, the bank intends to raise Rs 900 crore through tier II bonds, and Rs 100 crore through tier I bonds.

Allahabad Bank to raise Rs 1000 crore via bonds

Federal Reserve Chairman Ben S. Bernanke urged a sweeping overhaul of U.S. financial regulations in an effort to smooth out the boom-and-bust cycles in financial markets.

Bernanke urges rules overhaul to stem risk build-ups

Thrissur-based South Indian Bank (SIB) is eyeing a total business of over Rs 29,000 crore by the end of this fiscal year. The bank achieved Rs 25,910 crore business last fiscal year.

SIB eyes Rs 29000cr business this fiscal

The World Bank is likely to fund the Rs 303 crore drinking water project for Berhampur in South Orissa. The scheme envisages bringing water from Surada reservoir, located about 100-km from here.

World Bank to fund Rs 303cr water project

State-owned IDBI Bank is in the process of recruiting 2,000 supervisory officers in the next six months to support the expansion of its branch network, said Chairman and Managing Director Yogesh Agarwal.

IDBI Bank to hire 2,000 officers in six months

Bank aims to close present fiscal with a business of around Rs 93,000 cr.

Vijaya Bank advances grow 30%

The state-owned IDBI Bank is in the process of recruiting 2,000 supervisory officers in the next six months to support the expansion of its branch network, said chairman and managing director Yogesh Agarwal.

IDBI to hire 2,000 officers in 6 months

European Bank for Reconstruction and Development (EBRD) President Thomas Mirow said the bank will offer support to Ukraine&rsquo;s banks only after the country resumes cooperation with the International Monetary Fund.

Ukraine banks to get lifeline

UBS AG, Switzerland&rsquo;s biggest bank, posted a 20.9 billion Swiss franc ($18 billion) loss for 2008, more than initially reported, and said it remains &ldquo;extremely cautious&rdquo; about the outlook for this year.

UBS posts Swiss franc 20.9-bn loss, remains &#39;extremely cautious&#39;

Asia Aluminum Holdings Ltd. bondholders formed a group to oppose a buyback proposal that may test the rights of foreign investors in Chinese high-yield bonds.

Asia Aluminum bondholders oppose buyback offer

The Indian rupee appreciated by 38 paise against the US currency in early trade today on expectations of fresh capital inflows by foreign funds into domestic stock markets.

Rupee rises 38 paise against $ in early trades

Press Trust of India

Zurich-based Credit Suisse today appointed former US Ambassador to India David Mulford as its Vice-Chairman International.

Credit Suisse appoints David Mulford as Vice-Chairman

Public sector lender Central Bank of India has frozen lending rate on new housing loans up to Rs 20 lakh at eight per cent for a period of one year.

Central Bank freezes home loan rate at 8%

Standard &amp; Poor&rsquo;s, Moody&rsquo;s Investors Service, Fitch Ratings and other big credit-rating companies are obeying a stricter code, an international regulators&rsquo; panel said.

S&P, Moody, Fitch obey stricter code

At a time when inflation is touching new lows, the yield on the 10-year government bonds moved up sharply to close at the 7 per cent mark, reflecting concerns about the government&rsquo;s huge borrowing programme.

10-year-bond's yields rise to touch 7%

Primary issuances of certificates of deposit remained high On Thursday as banks rushed to raise funds in anticipation of a rise in CD rates next week as liquidity is seen shrinking, dealers said.

Banks up CD issuance on fear that rate will rise

Banks globally will have to hold more capital in the future as a cushion against losses, the Basel Committee on Banking Supervision said, broadening a revamp of rules in response to the financial crisis.

Banks need more capital to cushion  losses: Basel panel

As part of a Rs 5,000 crore borrowing plan for the next fiscal, Hyderabad-based SKS Microfinance is planning to raise Rs 500 crore through rated bonds next fiscal. It has also firmed up plans to raise Rs 25 crore through issuance of commercial paper (CP) in the next few days. SKS will be the first non-banking finance company (NBFC) in the micro finance space to use CP for fund raising.

SKS Microfinance to raise Rs 500 crore through rated bonds

With the real estate sector showing little signs of revival despite several steps taken by the government and the central bank so far, banks are now asking developers to lower prices to clear their piled-up inventory.

Banks tell realtors to cut prices, clear inventories

State-owned Export Credit Guarantee Corporation of India (ECGC) has seen an increase in insurance claims by exporters as defaults rise in the US.

ECGC sees rise in claims on US crisis

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